Enter Long or Short Limit to minimize Slippage?

[Gunter]

Dear NinjaTrader Paul H. and
Dear All other helping guys from NT8,

I tried to make it short but i couldn't...
If strategy is done (Replacement Strategy for 1K FDax Future but with Uni-Renko Bars 2, 2, 4, means timeless and
a traling stopploss behind without a PT for Long and Short) i come to the point to say Enter, but:

How to say it correctly to minimize Slippage by entering but i want defenitively 100% picked up from the market?
Exit is planned normally with Market Order.

You could say in this case you have to take the normal Enter Long / Short condition with Market Order behind.
In the moment i want to take:
EnterLong(Convert.ToInt32(DefaultQuantity), @"GetLong" + CurrentBar); and the same in opposit for short.

If price changes rapidly, there may be price gaps even on high-liquidity markets.
Therefore it could make sense to take a Limit Order like:
EnterLongLimit(GetCurrentBid(), "xxx"); and the same in opposite for short EnterShortLimit(GetCurrentAsk(), "xxx");
But would i picked up in every case?

Can we define a Limit Range as a minimum of slippage in points or % for deviation and
if so, would i picked up in every case or make it sense to think in this direction?

The question is: What would be the best and how to pronounce it correctly in NT8 language?
Can you show or provide me any hint or example how to come to an good end for both means Trader and Broker?
A bool variable to rest the bool back to false after order is filled for next entry is in use.

And please remember, I'm ust a really beginner in C#.
In every case i say Thank you in advance for your help and support!

Kind Regards
Gunter

[NinjaTrader_Jesse]

Hello Gunter,

To ensure the order is filled you would need to use a market order however part of a market order is slippage. Slippage is based on the active market being traded so there is not really any way to predict or control that.

Pleases let me know if I may be of further assistance.

[Gunter]

Dear Jesse,
Thank you for your answer. It's clear. Anyway two whiches:
If i want to use a limit order anyway even if just 74% will be filled how do i describe it "correctly" for example just for the Long side, like:
EnterLongLimit(GetCurrentBid(), "xxx"); or EnterLongLimit(GetCurrentAsk(), "xxx"); I think both would be work, or?
I think bid, beacuse it is maybe the the worse price for me but with more chance to run, or be filled, or?
And second question, please:
In case of the entered Limit Order in the automated Strategy (Bot) will not be filled from the exchange by broker and is pendig in my strategy
how can i this reset to get a change be ready for the next entry change are coming up in the startegy?
Just to avoid that the strategy is sit and wait for this only entry which never comes back and do nothing all the time long. (If so, but i'm not sure)
Can you provide me just a simple code example for that if feasible and if necessary.
Thank you in advance for your help.
Kind Regards Gunter

[NinjaTrader_Jesse]

Hello Gunter,

You could use those values, in historical those methods return the Close price and in realtime will return the current ask or bid. Depending on the broker being used you could use ask or bid, whichever would be best for your use case. It would still be best to use a market order if the intention is to always get into the market right away, you will otherwise need to account for having a possibly unfilled limit order.

Using the overload for EnterLongLimit which does not include IsLiveUntilCancelled would mean that after 1 bar the limit expires so your entry logic could either remain true for multiple bars and keep the limit order active or become false and allow the limit to cancel. Resetting would be up to you and how your entry condition works. If the condition remains true then it would not be reset but simply persist the limit order, you may see the strategy never trades if the price never hits the order.




Pleases let me know if I may be of further assistance.